Remote Vehicle Shutdown Market Size Worth USD 679.7 Million by 2027 | CAGR of 7.9%: Emergen Research

VANCOUVER, BC, Oct. 15, 2020 /PRNewswire/ -- The Global Remote Vehicle Shutdown Market is estimated to be worth USD 679.7 Million by 2027, according to a current analysis by Emergen Research. The rising cases of robbery in commercial vehicles entail the need for advanced technologies to protect the vehicle. Due to the robberies, the logistics industry frequently suffers massive losses, and there is an increased demand for advanced technology to prevent the robberies, which is expected to propel the market growth over the forecast period. Besides, the rapid adoption of IoT and Artificial intelligence in the vehicle to provide improved reliability and security is anticipated to further facilitate market growth over the forecast period.

However, it is anticipated that privacy issues and the risk of automotive damage due to engines' lockdown will restrain the market growth over the forecast years.

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Key Highlights from The Report

    --  In January 2019, in partnership with LoJack, Pioneer Electronics Inc.
        introduced the rDrive, a connected service solution. By allowing
        improved accessibility, surveillance, location-based services, and
        in-vehicle Wi-Fi hotspots, rDrive enhances the experience of vehicle
        ownership and driving. This will enhance the LoJack position in the U.S.
    --  Due to the growing integration of IoT, artificial intelligence, and
        other automation processes in the vehicle, the automatic segment is
        anticipated to dominate the market with a CAGR of 8.0% over the
        forecasted period.
    --  Over the forecast period, the petrol segment is expected to dominate the
        market as petrol is cheaper than diesel, and cars seem to be slightly
        convenient to purchase and maintain.
    --  Due to increasing cases of car thievery globally, the passenger car
        segment is expected to hold the largest market over the forecast period.
        Due to the increasing robbery cases in logistical vehicles, the
        commercial vehicle segment is estimated to rise substantially in the
        forecast timeframe.
    --  Due to rising concerns for the safety of cars, North America is expected
        to hold the largest market over the forecast period. The Asia Pacific is
        expected to witness the fastest market growth as auto theft cases have
        increased rapidly in this region over the past three years.
    --  Key participants include Sonic Electronix, Inc., Fleetsmart, Cobra Car
        Tech. Ltd., OnStar Corporation, Frotcom International, Scania AB,
        PassTime, EMCO Software, LoJack Corporation, and Tracker Connect (Pty)
        Ltd., among others.

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Emergen Research has segmented the Global Remote Vehicle Shutdown Market on the basis of type, propulsion, vehicle, and region:

    --  Type Outlook (Revenue, USD Million; 2017-2027)
        --  Automatic
        --  Manual
    --  Propulsion Outlook (Revenue, USD Million; 2017-2027)
        --  Electric
        --  Diesel
        --  Petrol
    --  Vehicle Outlook (Revenue, USD Million; 2017-2027)
        --  Commercial
        --  Passenger
    --  Regional Outlook (Revenue, USD Million; 2017-2027)

        --  North America1.  U.S.2.  Canada3.  Mexico

        --  Europe1.  Germany2.  U.K.3.  France4.  BENELUX5.  Rest of Europe

        --  Asia Pacific1.  China2.  Japan3.  South Korea4.  India5.  Rest of

        --  Latin America1.  Brazil2.  Rest of LATAM

        --  Middle East & Africa1.  Saudi Arabia2.  UAE3.  Rest of MEA

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